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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22314
Experience:  37 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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My name is ***** ***** & I own 50% of the shares in a

Customer Question

My name is ***** ***** & I own 50% of the shares in a company and another person. The other person is the sole director. There is no shareholder agreement or constitution, and I want to appoint myself as a director yet the current sole director has said no. What should I do? Also I have contributed all of the capital to the company by way of shareholder loans
JA: Thanks. Can you give me any more details about your issue?
Customer: The other 50% shareholder who is the sole director is being difficult, and I would prefer that they go altogether
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Submitted: 10 months ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 10 months ago.

You will need to call a meeting of shareholders and then move for your appointment as a director. If the other director refuses to cooperate, then your next step may be to threaten to liquidate the company, because it's affairs are at an impasse. You can do this under the Companies Act but it is the "nuclear" option. But certainly if the money has all been provided by you you can demand repayment at any time and bring trading to a halt.

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